date:Dec 18, 2013
Britain's Tesco Plc is set to become the first foreign supermarket to venture into India's $500 billion retail sector after announcing on Tuesday it had applied to buy a 50 percent stake in Tata Group's Trent Hypermarket Ltd.
The world's third-largest retailer, which already had a franchise agreement to provide support to Trent's Star Bazaar chain, has made an application to India's Foreign Investment Promotion Board and plans to invest $110 million, an official at the Indian trade ministry sai